Datafox are R&D Tax Credit Specialists
Our Auditing Service is provided by our team of R&D Specialists comprised of Chartered Accountants and Chartered Tax Advisors. We are able to recover 26% – 33.35% of all qualifying R&D expenditure for SME’s and 8.8% for large companies.
What is R&D Tax Credit?
Your Research and Development Tax Credits Claim with Datafox will be fast, efficient and transparent.
Introduced by the UK Government in 2000, the R&D tax relief scheme is designed to encourage innovation and global competitiveness by allowing companies to reclaim some of the money invested in qualifying research and development.
Datafox assists organisations from a range of industry sectors in accessing HMRC’s complex R&D Tax Credit scheme. HMRC’s guidance on claiming R&D tax credits is over several hundred pages long. Our specialist team comprises qualified Chartered Accountants and Chartered Tax Advisors.
What’s it worth?
SMEs can recover up to 26% (if in profit) and 33.35% (if loss-making) of all eligible R&D expenditure. Large companies/ organisations can benefit from an after tax benefit of 8.8% of the qualifying R&D expenditure. For more info see the ‘snapshot’ further down.
99.5% of elegible UK organisations miss the opportunity to reap the potential rewards offered by HMRC’s R&D Tax Credit scheme. Datafox has an experienced team with industry specialists that have a deep knowledge of the R&D landscape and our unique approach helps us deliver the best results. Once we determine you meet the basic R&D Tax Credit eligibility, our team will meet with you to identify potentially eligible projects unique to your business. Our hands-on approach as R&D Tax Specialists ensures we obtain the maximum benefit. We offer a thorough approach unlike the majority of accountants or companies offering R&D claims.
SME's - Recover 26% (If In Profit) Or 33.35% (If Loss-Making) With R&D Tax Credits
Eligible businesses can receive reductions in Corporation Tax liability as well as cash payments from 26% to 33.35% on qualifying R&D expenditure.
A small or medium sized enterprise (SME) is a company with less than 500 employees with either:
- an annual turnover under €100 million
- a balance sheet under €86 million
- Your company isn’t an SME if it’s part of a larger enterprise that, when taken as a whole, would fail these tests.
When considering these limits, you should also include any linked, partnership or shareholding companies that have at least a 25% share in your company and/or any company that your company holds a 25% share in.
Large Organisations - Recover 8.8% Research And Development Expenditure Credit (RDEC)
Large companies/ organisations can benefit from an after tax benefit of 8.8% of the qualifying R&D expenditure.
A large enterprise is a company with more than 500 employees with either:
- an annual turnover in excess of €100 million
- a balance sheet over €86 million
Ready to apply?
If you’re ready to apply for your R&D tax refund, please call us on the freephone number below or use this contact form and one of our helpful team will be in touch to help.
By completing the above contact form you consent that Datafox can contact you with regard to an R&D Tax Credits claim and use your details during any future claims.
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Mini Case Study:
A brewing company that brews beer & operates some pubs on the south coast of England. The claim processed by the expert Datafox team relates to challenges to meet two independent issues regarding regulatory compliance: in the first instance, the brewer was required to invent a custom solution to the discharge of effluent into the sewer system after an issue was raised by the local water company. In the second instance, the brewer was required to design & install a bespoke extraction & air filtration system into the kitchens of one of their pubs. To meet the former requirement, a number of off-the-shelf solutions were tried but found to be wanting. In the end, the brewer had to make modifications to an Oil Tank system to allow capacity for effluent to be held during periods of excessive flow so that filtration systems could cope. To meet the air filtration requirement, the brewer had to work closely with subcontractors to design a system that would fit into an old building, and that would satisfy local authority & DEFRA regulations.
A successful claim was made with the brewer receiving a substantial cash back payment from HMRC with eight weeks.